What us a refundable tax credit?

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I’m specifically referring to the refundable tax credit that is being sent out by the U.S. Government under the CARES act. What exactly is it? And more specifically will we have to pay this money back to the government?

In: Economics

2 Answers

Anonymous 0 Comments

If you make less than $75,000 and aren’t a dependent, you’ll get $1200 today/soon OR an extra $1200 on your tax refund when you file in early 2021 (not everyone will get their checks today).

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